Prime City One Capital Corp. extended its private placement for up to C$1.0 million of units at 8 Canadian cents apiece.
Each unit comprises one Prime City common share and one purchase warrant that entitles the holder to buy one additional common share at 10.5 cents for one year from the offering completion. The offering, slated to close in multiple tranches, is subject to approval of the Toronto Stock Exchange Venture Exchange's NEX board.
The Canadian company, which is pursuing a change of business but was previously involved in real estate, will use the proceeds to settle outstanding debt, to fund future restructuring costs and for general working capital purposes.
